The insurance industry is poised to overcome the COVID-19-induced global recession, according to a report by Swiss Re Institute.
With remote working becoming the norm for many employees due to COVID-19, there has been considerable demand for a change to working practices that could shift the focus of the employee benefits market.
A global survey carried out by ORX, an operational risk association for the financial services industry, over 160 senior risk professionals from banks and insurers has revealed that the risk landscape look nothing like what they had expected it to be in 2020 due to the coronavirus.
The insurance sector has a long history of relying on paperwork, and the balance between automation and human contact has been grappled with for several years – however, according to FinTechNZ members, the ongoing pandemic has highlighted the areas which would most benefit from change.
The rise in remote working due to the COVID-19 pandemic will increase the risk of cyberattacks, giving insurers an opportunity to improve their cyber insurance penetration rate, according to analytics firm GlobalData.
The COVID-19 pandemic has led to high unemployment levels globally and this means that insurance providers will struggle to convince policyholders to keep policies, said data and analytics firm GlobalData in a recent commentary.
Emerging markets will invest $2.2tn in infrastructure annually over the next 20 years, equal to 3.9% of GDP, according to estimates in the latest sigma report released by Swiss Re Institute.
As COVID-19 wreaks havoc worldwide, businesses focus on the short-term impacts of the pandemic, with their top concerns being whether they’ll be able to meet payroll and pay next month’s rent. Other medium- and longer-term impacts of the coronavirus pandemic are very much “tomorrow’s problem”.
The pressures exerted by the COVID-19 pandemic on workforce availability and maintaining supply chains are proving challenging to the power sector, according to a report by Willis Towers Watson.
COVID-19-related restrictions on supply chains and international travel have serious implications for the maritime industry, according to a new report by Allianz Global Corporate & Specialty (AGCS).